Salinas Tax Case Settled; Fitch flags Slower Mexico Credit

This week in finance news: Mexico’s financial landscape was reshaped by the resolution of a decade-long tax dispute, as Grupo Salinas agreed to pay MX$32.3 billion to the federal treasury. At the same time, Fitch Ratings warned of a potential credit slowdown in the banking sector ahead of the critical USMCA review. Meanwhile, tapi secured Series B funding to scale its payments infrastructure, and BBVA México announced the launch of Pago Directo, a solution designed to enable secure, app-based e-commerce authorizations.

More news below: 

Grupo Salinas Ends Tax Dispute With MX$32 Billion Payment

The SAT and Grupo Salinas reached a definitive agreement on Thursday, Jan. 29, to resolve a long-running tax dispute. Under the settlement, the conglomerate controlled by Ricardo Salinas Pliego will pay MX$32.3 billion (US$1.87 billion) to the federal treasury, bringing to an end more than a decade of administrative and judicial litigation.

Mexico Banks See Credit Slowdown Ahead of USMCA Review: Fitch

The Mexican banking system is entering a period of cooling as macroeconomic uncertainty and trade tensions with the United States dampen credit demand. According to Fitch Ratings, the sector is adopting a “wait-and-see” approach amid the upcoming review of the United States-Mexico-Canada Agreement (USMCA) and the risk of renewed protectionist policies under a potential Donald Trump administration.

Mexico Launches TNFD Group to Embed Biodiversity in Finance

Mexico took a step toward integrating biodiversity considerations into financial decision-making with the launch of the Taskforce on Nature-Related Financial Disclosures (TNFD) Mexico Consultation Group on Jan. 19. The initiative is co-led by the Mexican Sustainable Finance Council, the Biodiversity Finance Initiative (BIOFIN) of the United Nations Development Program (UNDP) in Mexico, and Grupo Financiero Banorte.

tapi Raises US$27 Million to Scale Mexican Payment Infrastructure

tapi, a payment infrastructure company, has finalized a US$27 million Series B funding round to accelerate the expansion of its payment and collection network across Mexico. This capital injection follows a period of exponential growth in 2025, during which the company reached profitability and completed the acquisition of Arcus assets. It now processes over 250 million annual transactions.

BBVA México Rolls Out Pago Directo for In-App Payments

BBVA México has launched Pago Directo, a digital payment solution designed to streamline e-commerce transactions through embedded finance. Developed in collaboration with Conekta, a leading Mexican payment platform and BBVA Spark client, the tool allows users to authorize purchases directly within the bank’s mobile app without sharing card details with third-party merchants.

Cox Secures Regulatory Green Light for Iberdrola México Assets

Cox, the Spanish water and energy utility, has received formal authorization from Mexican regulators to finalize its acquisition of Iberdrola México's assets. Enrique Riquelme, Executive Chairman, Cox, confirmed the approvals were granted by the National Energy Commission (CNE) and the National Antitrust Commission (CNA) during the 2026 International Economic Forum on Latin America and the Caribbean.